Gold
Switzerland is the world's biggest bullion refining and transit hub.
The U.S. central bank will release its policy statement at 1900 GMT, followed by remarks from Chair Jerome Powell.
The precious metal has risen by around 29% this year, putting it on track for its biggest annual gain since 2010.
The technique, long used in archaeology, was pioneered in mining by University of Pretoria geologist Roger Dixon to help distinguish between legal and stolen gold.
Gold held a two-day drop ahead of the Federal Reserve’s final interest-rate decision of the year, with traders also weighing the policy outlook for 2025.
A prolonged pause on rate cuts by the Fed may put further pressure on gold’s investment demand.
UBS forecast US inflation to hit 3% at the end of 2024, 2.6% at the end of 2025, and 2.5% throughout 2027.
It must be noted that the Chinese central bank has resumed gold purchases after a six-month hiatus.
The odds of a quarter-point rate cut on Dec. 18 are currently at 85.8%, according to the CME Fedwatch tool.
Of particular importance is the commissioning of the second direct reduced iron (DRI) plant in Algeria, which uses natural gas.
The gold market outlook for 2025 will undoubtedly be influenced by these dynamics, with investors keeping their fingers on the pulse and watching for signs of change.
When asked if he owns any crypto, Powell responded that he is not allowed to hold such assets due to his position.
The Reserve Bank of India (RBI) emerged as the largest gold buyer.
France's government, meanwhile, faces likely collapse as far-right and left-wing parties filed no-confidence motions against Prime Minister Michel Barnier.